JOBURG – The Youth Entrepreneurship Fund (YEF), a brainchild of Ezra Ndwandwe, founder and creator of TV entrepreneurial reality show The Big Break Legacy, was launched at Constitutional Hill.
The fund, an initiative of The Big Break Legacy, has been established to assist young people who wish to access significant grant funding as capital to start a business.
Explaining how the fund operates, Ndwandwe said young people who join the fund would receive both formal and informal training that would assist them in preparing their business models and plans in order to be both market and investor ready.
Young people will be required to choose the amount of capital they desire to start their business and then contribute to the fund over a 12-month period. There are three options available to them:
• Platinum: A total contribution of R5000 a year to access a grant of R1 million
• Gold: A total contribution of R3000 a year to access a grant of R500 000
• Silver: A total contribution of R2000 a year to access a grant of R100 000
“This model will afford young people an opportunity to try out entrepreneurship and test whether or not they have an appetite for it or if their business concept is indeed ready for the market or even has investment appeal,” said Ndwandwe
The fund is aimed at young people between the ages of 18 and 35, but it is not exclusive to them. “An older person can benefit from the fund by contributing as per the requirements of the chosen package and will benefit only on condition that his or her business will hire at least two young people,” he said.
People can apply through appointed agents who will be operating at universities, FET colleges, churches and communities, who will assist with a simple registration form.
Details: www.SAYEF.co.za
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